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- use only equitions and graphs to show correct statement a.The assumption of Constant Returns to Scale technology implies that the marginal product of factor imput is always decreasing. b. In the Solow growth model i the saving rate is a crucial determinant of the economy's long-run growth rate of output per worker. c. In the endogenous growth model , the representative firm sets the wage so that the demand and supply of efficiency units of labour are equal. d. In the endogenous growth model , there is no steady state of the economy as human capital will always continue to grow foreverQUESTION 22 whereas in the Solow model In the Romer model, the balanced growth path is equal to OAG-A; the steady-state level of capital is zero OB.0; infinity ; the growth rate declines as economy approaches the steady state O D. the level of the number researchers in an economy; capital is scarce OE. g=lL: there is a steady state G H. K. V. M Control Alt 無要換 AltConsider the Solow Model with no population or technological growth. Suppose that two countriesare identical except that in Country A the depreciation rate is greater than the depreciation rate inCountry B.a. How do you compare the steady state level of capital per worker in these countries? Illustrategraphically. Explain the economic intuition for the di erences in capital per worker in steadystate.b. Which country a higher output per worker in steady state? What about investment per workerin steady state? Explain carefully.
- In the Solow growth model, which of the following is/are the effect/s of an increase in the rate of technological progress? (i) higher capital-output ratio (ii) faster growth in output per worker (iii) faster growth in output O a. (i), (ii), and (iii) O b. Only (i) and (ii) O c. Only (1) and (iii) O d. Only (ii) and (iii)3 pts in the Solow model, the economy reaches a steady-state because as capital per worker increases O savings per worker is constant, while the population growth rate is contare and the depreciation rate of capital decen, ing that the economy w gro endogenously while the population growth rate and the depreciation rate of capital are comitant implying that the economy will converge to a sady O marginal savings per worker diminishes, while the population growth rate and the depreciation rate of capital are constant implying that the economy will gro endogenously Osaving perv state. O marginal savings per worker diminishes, while the population growth rate and the depreciation rate of capital are constant, implying that the economy will converge to a steady-stateIn the Solow growth model without population growth and technological progress, how can the steady state of an economy be described? (i) Total capital stock and total output are growing steadily over time. (ii) The change in capital stock per worker is zero. (iii) The level of investment per capita is equal to the depreciation of capital per person. O a. (i), (ii), and (iii) O b. Only (ii) and (iii) O c. Only (i) and (ii) O d. Only (i) and (iii)
- Sınav gezintisi Soru 2 Chapter 8: Economic Growth I: Capital Accumulation and Population Growth Henüz 1 3 4. 6. cevaplanmadı 5,00 üzerinden Question: If the capital stock in the Solow growth is constant, the ....... determines the level of output 10 11 12 13 14 15 16 işaretlenmiş and the establishes the distribution of output between ...... and P Soruyu 19 20 işaretle O a. depreciation rate / population growth rate / wages/ profits. Uygulamayı bitir . Kalan süre 0:23:27 b. production function/ saving rate/ consumption/investment. O c. population growth rate / saving rate /wages /profits. Od. production function/ saving rate /wages/ profits. e. saving rate/ production function / consumption/investment. TUR4 Explain the central paradox at the heart of the Solow model, with constant and exogenous technologies. Given this paradox, why is the Solow model still relevant?Explain the Solow Model when there is an improvement of technology
- 11. Alter the Solow growth model so that the pro- duction technology is given by Y= zK, where Y is output, K is capital, and z is total factor pro- ductivity. Thus, output is produced only with саpital. (a) Show that it is possible for income per person to grow indefinitely. (b) Also show that an increase in the savings rate increases the growth rate in per capita income.4.The Solow growth model differs from the Harrod-Domar because: a.Assumes that depreciation rate and population growth are exogenous b.Assumes that the rate of technological progress varies from country to country. c.Predicts that permanent growth is achievable only through technological progress d.Predicts that poorer countries will grow faster than richer countries.Suppose that population growth increases. The Solow growth model with population growth and depreciation (but without technological progress) predicts that this will tend to deteriorate people's welfare because of: (i) lower total output (ii) lower output per worker (iii) lower consumption per worker O a. (i), (ii), and (iii) O b. Only (i) and (iii) O c. Only (ii) and (iii) O d. Only (i) and (ii)